Firoz Patel: "AlertPay is like the Fort Knox of payment systems."

Exclusively for ECJ.

AlertPay is one of the payment systems which are called a vexed question. Some people adore it, others try to convince everybody that it is a scam. Nevertheless there is such a theory that the processor is alive as long as it is discussed. The hotter are the discussions the more active the processor is developing. Today we decided to talk to Firoz Patel, President and CEO of AlertPay and to get everything at first hand.

Good morning, first of all we want to thank you for finding time to answer our questions. Could you please introduce yourself, your name and position?

Thank you. My name is Firoz Patel, President and CEO of AlertPay.

AlertPay is a very interesting name. The first associations recall some anxiety. Why did you choose it?

Very good question. Some people do equate Alert with alarm and treat is as a noun rather than an adjective, as we saw it when it first chosen. Alert is not as red Alert, but rather as attentive and guarding your money. Thus AlertPay.

You’re marketed as an open stable company, and many of our readers would like to know at least the approximate showings of your business. What is you turnover, how many active users do you have and what guarantees can you provide to assure that your company will always be successful in business and will actively manage the people’s funds?

AlertPay functions since 2004. Of course, it’s too early to make any conclusions but nevertheless how can you characterize the system? Has it met all the expectations?

AlertPay has been around since then and I would like to think that we have made great leaps and bounds in the payment industry. Certainly there is a lot more that we could to match existing services, but there are many other features that we will be introducing that will be considered as pioneering.

What are your prospects and plans for future? Do you plan to launch any new services?

PayPal today is very active. Almost everyday we found some news telling about some services which have chosen it as a processor. What can you tell about AlertPay?

Well AlertPay is not as active, but we are growing dramatically. Soon we will also be looking to actively do marketing and get companies to start using AlertPay.

Today the question of security is very relevant. What can you say about your protection?

AlertPay’s name is all about security. We take pride in the knowledge and application of all the security systems and have implemented everything to ensure safety of all our clients’ funds. One member told us that AlertPay was like the Fort Knox of payment systems.

Today there is a great number of payment systems both young and mature. How do you think what are your main rivals? And what is your main trump card against them?

Certainly there a lot of new players in the industry, but knowing that, we do our own thing and have our own plans for the future. There is no ‘Trump Card’ against any of them. The main thing is that we are feature rich and only getting richer. Through the process of making AlertPay easier for the entire world to access, we will be the best payment processor, enabling members to easily be able to use AlertPay.

What do you think about Russian market? The analysts mark an evident boom of payment systems in CIS countries: Webmoney has entered the international market, LR which is rumored to be the Russian one as well, is also spoils for the leaders. Don’t you see the threat in CIS payment systems?

Again we do not look at other payment systems. We will enter every country, when we are ready to enter. That means that we will have support in the local language, localized web sites, local banking relationships, etc…

The issue of e-gold is very relevant today. Since particularly e-gold was a father of the whole virtual economy we would like to know your opinion regarding this system.

At one time I thought they were a very good e-currency, but with a lack of controls and regulations, it only makes sense that they are hurting today.

What can you tell your readers?

There is nothing left to say, with the intelligent and informed questions you have asked me here. As time will go on, AlertPay members, past, present and future, will see the value in AlertPay as we continue on listening to what they want and continually improve our services and keep adding new features.

Thank you very much for your kind attentions to our journal. We wish you all the best and hope that your system will have a great future.